A wind energy tax credit championed
by President Barack Obama will benefit financially a group of large
American corporations that have donated overwhelmingly to Democratic
candidates and committees.
Last week a group of 19 non-energy sector businesses—including Yahoo!, Starbucks, Symantec, and Sprint—sent a letter to congressional leaders urging them to extend the Production Tax Credit (PTC), a $1 billion tax subsidy for wind energy set to expire at the end of the year.
“We are concerned that allowing the PTC to expire will immediately raise prices for the renewable electricity we buy today,” the letter states. “…Failure to extend the PTC for wind would tax our companies and thousands of others like us that purchase significant amounts of renewable energy and hurt our bottom lines at a time when the economy is struggling to recovery.”
A review of the companies’ political contributions reveals a strong preference for Obama and the Democratic Party.
The 19 businesses and their employees have given a combined $240,648 to Obama’s campaign this cycle, compared with $83,875 given to Republican candidate Mitt Romney. They have contributed about $7.3 million to Democratic candidates and committees since 2008, compared with roughly $4.5 million given to Republicans.
Yahoo! is one of the group’s largest contributors to Obama and Democrats, having donated more than $985,000 to Democrats since 2008 and more than $44,000 to Obama’s reelection campaign.
The company, its employees, and political action committee (PAC) have given $261,00 to Republicans and just $8,000 to Romney.
Read more: http://freebeacon.com/the-wind-lobby-and-american-domestic-policy/
Last week a group of 19 non-energy sector businesses—including Yahoo!, Starbucks, Symantec, and Sprint—sent a letter to congressional leaders urging them to extend the Production Tax Credit (PTC), a $1 billion tax subsidy for wind energy set to expire at the end of the year.
“We are concerned that allowing the PTC to expire will immediately raise prices for the renewable electricity we buy today,” the letter states. “…Failure to extend the PTC for wind would tax our companies and thousands of others like us that purchase significant amounts of renewable energy and hurt our bottom lines at a time when the economy is struggling to recovery.”
A review of the companies’ political contributions reveals a strong preference for Obama and the Democratic Party.
The 19 businesses and their employees have given a combined $240,648 to Obama’s campaign this cycle, compared with $83,875 given to Republican candidate Mitt Romney. They have contributed about $7.3 million to Democratic candidates and committees since 2008, compared with roughly $4.5 million given to Republicans.
Yahoo! is one of the group’s largest contributors to Obama and Democrats, having donated more than $985,000 to Democrats since 2008 and more than $44,000 to Obama’s reelection campaign.
The company, its employees, and political action committee (PAC) have given $261,00 to Republicans and just $8,000 to Romney.
Read more: http://freebeacon.com/the-wind-lobby-and-american-domestic-policy/
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